ExodusPoint Capital Management LP Raises Stock Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

ExodusPoint Capital Management LP grew its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 169.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 903,506 shares of the company’s stock after buying an additional 567,770 shares during the period. ExodusPoint Capital Management LP’s holdings in Warner Bros. Discovery were worth $9,550,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in WBD. Principal Financial Group Inc. raised its holdings in Warner Bros. Discovery by 3.1% during the third quarter. Principal Financial Group Inc. now owns 2,579,571 shares of the company’s stock valued at $21,281,000 after acquiring an additional 78,653 shares during the period. Coronation Fund Managers Ltd. grew its position in shares of Warner Bros. Discovery by 54.1% during the fourth quarter. Coronation Fund Managers Ltd. now owns 5,644,290 shares of the company’s stock worth $59,660,000 after purchasing an additional 1,981,050 shares in the last quarter. SVB Wealth LLC bought a new stake in Warner Bros. Discovery during the 4th quarter valued at approximately $168,000. Natixis Advisors LLC lifted its holdings in Warner Bros. Discovery by 3.6% in the 4th quarter. Natixis Advisors LLC now owns 291,006 shares of the company’s stock worth $3,076,000 after purchasing an additional 10,024 shares in the last quarter. Finally, Parkside Investments LLC boosted its stake in Warner Bros. Discovery by 297.9% in the 4th quarter. Parkside Investments LLC now owns 260,494 shares of the company’s stock worth $2,753,000 after purchasing an additional 195,026 shares during the period. 59.95% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Warner Bros. Discovery

In other Warner Bros. Discovery news, Director Piazza Samuel A. Jr. Di acquired 17,346 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were purchased at an average cost of $11.41 per share, for a total transaction of $197,917.86. Following the completion of the purchase, the director now owns 159,932 shares in the company, valued at approximately $1,824,824.12. This trade represents a 12.17 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 1.80% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on WBD. Barrington Research reiterated an “outperform” rating and set a $16.00 price objective on shares of Warner Bros. Discovery in a research report on Wednesday, March 5th. Barclays lifted their price target on shares of Warner Bros. Discovery from $10.00 to $12.00 and gave the company an “equal weight” rating in a report on Friday, February 28th. Citigroup increased their price objective on shares of Warner Bros. Discovery from $13.00 to $15.00 and gave the company a “buy” rating in a report on Wednesday, March 5th. Guggenheim lifted their target price on Warner Bros. Discovery from $11.00 to $12.50 and gave the stock a “buy” rating in a report on Thursday, December 12th. Finally, Bank of America reissued a “buy” rating and set a $14.00 price target on shares of Warner Bros. Discovery in a research note on Thursday, December 12th. Ten research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $11.96.

Warner Bros. Discovery Trading Down 11.9 %

Shares of WBD opened at $8.07 on Friday. The firm has a market capitalization of $19.81 billion, a price-to-earnings ratio of -1.76, a PEG ratio of 8.64 and a beta of 1.48. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80. Warner Bros. Discovery, Inc. has a 1-year low of $6.64 and a 1-year high of $12.70. The company has a 50-day moving average of $10.50 and a 200 day moving average of $9.76.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings results on Thursday, February 27th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.30). Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. The company had revenue of $10.03 billion for the quarter, compared to the consensus estimate of $10.16 billion. On average, research analysts expect that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current year.

Warner Bros. Discovery Company Profile

Warner Bros. Discovery, Inc operates as a media and entertainment company worldwide. It operates through three segments: Studios, Network, and DTC. The Studios segment produces and releases feature films for initial exhibition in theaters; produces and licenses television programs to its networks and third parties and direct-to-consumer services; distributes films and television programs to various third parties and internal television; and offers streaming services and distribution through the home entertainment market, themed experience licensing, and interactive gaming.